US mass merchant Target reported net earnings of $689 million for the first quarter ended 30 April, a rise from the $671 million posted in the same period last year.In the US, sales increased 2.8% to $15.6 billion for $15.2 billion in Q1 2011, attributable to a 2% rise in comparable store sales and the addition of new stores.
EBIT fell 4.2% to $1.1 billion, while EBIT margin declined to 6.8% from 7.3% in the same quarter of the previous year.
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